Cosmetic Chemicals Market Size, Share, Growth and Demand Forecast to 2030
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In contemporary years, major players in the cosmetic chemicals industry are introducing new products to stay ahead of their competitors. For instance, in January 2020, BASF unveiled a portfolio of new skincare active ingredients. This portfolio includes Inolixir, Hydagen Aquaporin, Hydrasensyl Glucan, and bioactive ingredients for makeup applications. Other players engaging in such strategic measures are The Dow Chemical Company, P&G Chemicals, Bayer AG, Givaudan S.A., Croda International Plc, and Eastman Chemical Company.
A number of factors such as the growing disposable income of people in developing countries such as India and China, the increasing focus of people on physical appearance, and the surging consumption rate of beauty products by female professionals of big corporations will help the cosmetic chemicals market display a considerable growth between 2021 and 2030. Moreover, the increasing focus of leading players on R&D to innovate new products will also help the industry grow in the future.
The mounting public concerns about hair loss, gray hair, skin health, and physical outlook, and the changing hairstyling trends will accelerate the global demand for cosmetic chemicals. The changing scenario is encouraging more people to make hefty investments in premium cosmetic products. The soring expenditure on personal care products can be ascribed to the booming disposable income of people. To cater to the escalating demand, players are focusing on advertising and commercialization of premium haircare, skincare, personal care, and beauty products.
Nowadays, increasing R&D for product innovation has become a major trend in the cosmetic chemicals market. As people are becoming more aware of their physical outlook, they are constantly seeking out better substitutes for traditional cosmetic products. To meet the evolving needs of customers, market players are actively focusing on developing skin-friendly cosmetic products by delving into the imaginable aspects of wellbeing and beauty; understanding the biology of the oral cavity, hair, skin, and teeth; improving sustainable development methods; and investigating customer behavior and beauty Accordingaspirations.to P&S Intelligence, in 2020, the skincare category, within the application segment, accounted for the largest share in the cosmetic chemicals industry. This was on account of the growing public concerns regarding skin health and the increasing availability of new and improved chemicals to produce improved skincare products. Due to these factors along with the soaring demand for sunscreens, face creams, and body lotions, the category is expected to generate the highest revenue in the coming years as well.
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Global Cosmetic Chemicals Market Size Breakdown by Segments By Product Type • Surfactants o Anionic o Cationic o Non ionic o Amphoteric • Emollients & Moisturizers • Colorants & Pigments • Preservatives • Emulsifying & Thickening Agents By Application • Skin Care • Hair Care • Make Up • Oral Care • Fragrances By Region • North America o U.S. o Canada • Europe o Germany o France o U.K. o Italy o Spain • Asia Pacific o Japan o China o India o Australia o South Korea
Geographically, the APAC region held the largest share in the cosmetic chemicals market in 2020, and it is also expected to retain its dominance throughout this decade. The lead can be credited to the surging focus of market payers on R&D to achieve technological breakthroughs in ingredient processing and reduce the production cost of organic personal care products. Additionally, the presence of several small and large scale manufacturers of cosmetics and chemical suppliers will attribute to the market growth in the region. the increasing public awareness about skincare and hair care and the availability of innovative products are the key contributors to the market worldwide.
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• Latin America o Brazil o Mexico • Middle East and Africa o Saudi Arabia o South Africa © P&S Intelligence. All rights reserved 3
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